LPL Financial (NASDAQ:LPLA) had its price target lowered by Citigroup from $102.00 to $100.00 in a research report issued on Tuesday, BenzingaRatingsTable reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Citigroup‘s price objective suggests a potential upside of 18.40% from the stock’s current price.
Several other brokerages have also recently issued reports on LPLA. Zacks Investment Research cut Haynes International from a “hold” rating to a “sell” rating in a report on Wednesday, May 8th. Goldman Sachs Group reaffirmed a “buy” rating and set a GBX 265 ($3.46) price objective on shares of Tesco in a report on Tuesday, April 2nd. BidaskClub raised Zumiez from a “sell” rating to a “hold” rating in a report on Saturday, June 22nd. Finally, Compass Point cut LPL Financial from a “buy” rating to a “neutral” rating and set a $84.13 price objective for the company. in a report on Wednesday, May 8th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. LPL Financial presently has an average rating of “Hold” and a consensus target price of $83.88.
LPLA stock traded up $0.70 during midday trading on Tuesday, hitting $84.46. 495,220 shares of the stock were exchanged, compared to its average volume of 737,991. The stock’s 50-day moving average is $82.80. The stock has a market capitalization of $7.01 billion, a PE ratio of 15.85, a price-to-earnings-growth ratio of 0.79 and a beta of 1.35. LPL Financial has a fifty-two week low of $52.03 and a fifty-two week high of $86.09. The company has a debt-to-equity ratio of 2.60, a quick ratio of 1.40 and a current ratio of 1.40.
LPL Financial (NASDAQ:LPLA) last issued its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.33. The firm had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.35 billion. LPL Financial had a return on equity of 53.97% and a net margin of 9.42%. LPL Financial’s revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.01 earnings per share. Analysts predict that LPL Financial will post 7.08 EPS for the current fiscal year.
In other news, insider Michelle Oroschakoff sold 6,000 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $84.51, for a total value of $507,060.00. Following the completion of the transaction, the insider now directly owns 15,563 shares of the company’s stock, valued at $1,315,229.13. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Dan H. Arnold sold 1,222 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $85.00, for a total value of $103,870.00. Following the completion of the transaction, the chief executive officer now directly owns 230,068 shares of the company’s stock, valued at $19,555,780. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,722 shares of company stock valued at $653,055. Insiders own 2.20% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. LPL Financial LLC increased its stake in LPL Financial by 11.1% in the fourth quarter. LPL Financial LLC now owns 20,196 shares of the financial services provider’s stock valued at $1,234,000 after purchasing an additional 2,011 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its stake in LPL Financial by 8.4% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 3,600 shares of the financial services provider’s stock valued at $250,000 after purchasing an additional 280 shares during the last quarter. APG Asset Management N.V. increased its stake in LPL Financial by 75.7% in the fourth quarter. APG Asset Management N.V. now owns 887,500 shares of the financial services provider’s stock valued at $47,420,000 after purchasing an additional 382,400 shares during the last quarter. Boston Advisors LLC increased its stake in LPL Financial by 35.2% in the first quarter. Boston Advisors LLC now owns 90,577 shares of the financial services provider’s stock valued at $6,309,000 after purchasing an additional 23,591 shares during the last quarter. Finally, Northpointe Capital LLC increased its stake in LPL Financial by 7.9% in the first quarter. Northpointe Capital LLC now owns 60,786 shares of the financial services provider’s stock valued at $4,234,000 after purchasing an additional 4,439 shares during the last quarter. Hedge funds and other institutional investors own 93.75% of the company’s stock.
LPL Financial Company Profile
LPL Financial Holdings Inc, together with its subsidiaries, provides an integrated platform of brokerage and investment advisory services to independent financial advisors and financial advisors at financial institutions in the United States. Its brokerage offerings include variable and fixed annuities, mutual funds, equities, retirement and 529 education savings plans, fixed income, and insurance, as well as alternative investments, such as non-traded real estate investment trusts and business development companies.
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